Page 2 - Oil Industry

$86 bn of takeovers, but big oil's merger mania has an eye on its demise

Deal activity doesn't suggest an industry gearing up for a rally in demand.

Oil prices edge higher on inventory drawdowns, Brent tops $75 a barrel

Oil prices rose on Thursday as crude stockpiles in the United States, the world's top oil consumer, fell to their lowest since January 2020

New fuel retail outlets may rely on public sector OMCs to build networks

These companies are banking on rising fuel demand predicated on growing vehicle ownership and rising mobility

India in talks with Russia for $2-3 bn investment in upstream oil assets

Tie-ups in Arctic projects also being evaluated

ONGC's existential problem: India's exploration conglomerate running empty

India's dependence on imported oil and gas is rising steadily but the country's premier exploration conglomerate is running on empty

Tata vs Reliance: A two-front battle -- renewable energy and retail

Their renewable energy and retail plans offer contrasting strategies; if they pan out, the consumer is the guaranteed winner

OPEC oil alliance in standoff between Saudi Arabia and UAE

The OPEC oil cartel led by Saudi Arabia and other allied producing countries resumed talks on Monday amid a standoff with the United Arab Emirates

Reliance Industries: Key financial ratios fall to three-decade low in FY21

On a consolidated basis, firm's RoCE declined to 7.8% in the fiscal

RIL reinvents, again

The scale of its green energy debut is stunning

Oil in dangerous waters

Data for the financial year 2020-21 revealed that domestic oil production fell again by 5% to 30.5 mn tonnes. This is the lowest in this century

Oil extends gains on OPEC+ supply discipline and demand prospects

NEW YORK (Reuters) - Oil rose more than 1% on Wednesday, supported by a decision by OPEC and its allies to stick to its plan to gradually restore supply, along with the slow pace of nuclear talks between Iran and the United States.

OPEC wins, the West loses

Judges, investors force oil firms towards low-carbon future

Next oil reserves plan by Sept, to see Rs 14K-crore investment: ISPRL

Request for proposal document awaiting Centre's nod

This time is different: Outside OPEC, oil firms aren't raising production

Oil industry is on the ropes, constrained by Wall Street investors demanding that companies focus on returning more money to shareholders.

India's oil industry struggles to predict demand recovery in pandemic

Diesel and gasoline, which account for more than half of oil consumption in India, are bearing the brunt of lockdowns.

O2C, Indian Oil Corp bag supplies in intense bidding for KG-D6 gas

RIL and its partner BP of the UK had offered 5.5 million standard cubic meters per day of additional gas in the auction for a flexible tenure of 3-5 years

Saudi Aramco profit drops 44%, but $75-billion dividend survives

The dividend is a key source of cash for the kingdom, whose economy was hit after the virus hammered energy markets and shut down local businesses

Oil industry seeks alliance with Farm Belt to fight Biden's EV agenda

While the oil industry and biofuels producers are natural competitors for space in America's gas tanks, they share a desire to ensure a future for internal combustion engines.

Oil refiners on the margin amid rising crude prices, muted demand

Indian majors have to balance between rising crude prices, muted demand and heavy central and state levies on retail prices

Biden announces return to Paris climate accord, curbs on US oil industry

WASHINGTON (Reuters) - U.S. President Joe Biden on Wednesday announced America's return to the international Paris Agreement to fight climate change, the centerpiece of a raft of day-one executive orders aimed at restoring U.S. leadership in combating global warming.